- Imagination Technologies Group has continued to make good progress with volume ramp up across many of its existing technologies.

The group says the momentum in the business has continued strongly, following another robust performance in the first half of the financial year.

Royalty revenue growth has continued to be strong, in line with our expectations. The unit volume has continued to grow significantly, driven by new product launches from a number of our customers, the traditional holiday period uplift, and continuing momentum across the customer base.

The average royalty rate has maintained the level achieved in the first half of the year.

Chief executive Hossein Yassaie said: "We continue to make good progress with volume ramp up across many of our existing technologies, as more of our licensees bring our latest technologies to market in increasing volumes. At the same time we are making the necessary investments in essential complementary technologies to fuel our continued long term growth.

"We are also delighted to have completed our acquisition of MIPS, which we are confident will enable Imagination to become a significant player in the processor and CPU IP market within the next five years.

"Our design wins are creating a wider base for continued momentum in future volume growth. Our stated goal of around 1bn annual unit shipments (excluding MIPS) by 2016 remains a realistic objective."

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